Hi debtmad2011

Im not sure if you mean signing one or getting it protected, although the answer is yes to both.

The trust deed is only an option if its the best option for you and the proposal meets with the agreement of your creditors.

Mark

Ok thanks i suppose im jst a bit worried they will say no to me and im left with all my debt .

I think it really depends on the level of your debt, whether you are completely unable to meet repayments, and your income/expenditure which should leave enough disposable income to meet a minimum expectation of dividend - although i may be wrong!

Hi debtmad2011.

You could look at this in a couple of ways:

Firstly you need to find a Trustee that is prepared to take on your trust deed. They need to make sure that your circumstances are suited by a trust deed and advise you on alternatives if they appear to be more suitable. They also need to be confident that any offer that you are in a position to put to creditors has a chance of being accepted by creditors. They also need to confirm that the terms of the offer from the trust deed fall within the guidance set for trust deeds by those that oversee their work.

Secondly you will want creditors to allow your trust deed to become protected. This stops any of these creditors taking legal action against you. If enough of your creditors vote in favour of accepting your trust deed it will become protected. If enough creditors vote against your trust deed becoming protected it will not.

You may wish to read the interviews with Mark, Kevin and Shona where they describe the percentage of cases that each of their firms handles which become protected. Hopefully you'll find that reassuring.

Thanks guys u are all helping put my mind aat ease regarding this.